Annual report 2014

Telegraaf Media Groep has had a difficult year. The declining trend in circulation and advertising revenues. The robust cost savings programme was not enough to offset the decline in revenues. TMG’s revenues fell by € 27.5 million to € 514.9 million.

Although the EBITDA result improved by € 25 million to € 46.1 million, the reported operating result deteriorated. The net result was negative € 38.1 million versus positive € 177.9 million in 2013.

Geert-Jan van der Snoek, CEO of Telegraaf Media Groep: ‘Steps have been taken in recent months to revert the persistent decline in revenues. The 2014 results and our findings demonstrate that our organisation must increase the pace at which it adapts to rapidly changing media use. The management teams in virtually all business units have been changed. Plans are being implemented with the new management teams that give shape to the direction announced in December: focus on the core business and on the key brands. Our core activity, creating and marketing content, is our strength, and our focus for the future aims at this. We are in the process of determining the future of our non-core activities’

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